Yesterday the dollar index was down 0.60%. The pound, which followed, gained 62 points. On the daily chart, it appears like the price has settled in the range of target levels 1.1737-1.1940 in the last five days.
The Marlin oscillator is developing a downward progression on the daily chart. Breaking through the nearest support at 1.1737 is already overdue. Settling below the level opens the 1.1500 target.
On the four hour chart, the price can not rise above the balance indicator line, which confirms the corrective nature of the current local growth of the last few days. The Marlin oscillator outlines a reversal from the zero neutral line. Breaking through the MACD line support (1.1800) will confirm if the price really intends to overcome the target level of 1.1737 as well.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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